RIM Lays Off 200 Workers

The markets have wreaked havoc on Research In Motion, which has started laying off workers to make up for its shrinking value.

The first round of layoffs at Research In Motion has claimed 200 jobs in Waterloo, Ont., as the BlackBerry maker struggles to make up for tumbling profits and a weak financial outlook. RIM said Friday that it would be cutting jobs throughout this quarter as a cost-savings measure, but how many of the company's 17,500 employees stand to be axed is unknown. RIM shares fell more than 20 per cent on Friday after the company released its first-quarter earnings. In the past three years, the company has lost more than 80 per cent of its value as iPhones and Google Android-based smartphones have bit into the BlackBerry's market share.